Market Roundup (AMAG, ALTH, TIF, SVU, AMR, TAM, GOL, LFL)

Shares of AMAG Pharmaceuticals Inc AMAG gained about 6%, as the drug sector's two key indexes were trading mixed. AMAG shares gained after analysts at Madison Williams upgraded the stock from “accumulate” to “buy.” However, shares of Allos Therapeutics Inc ALTH dropped about 2% after the company announced its plans to reduce 13% of its work force. The NYSE Arca Pharmaceutical Index (DRG) fell about 0.01% while the NYSE Arca Biotechnology Index (BTK) gained about 0.62%. Tiffany & Co TIF raised its fiscal-year projections after reporting 8% rise in its holiday-season adjusted comparable-store sales. Tiffany now projects its FY11 adjusted profit from continuing operations of $2.83 to $2.88 per share, up from its earlier forecast in November of $2.72 to $2.77 per share. However, analysts estimated profit of $2.77 per share for fiscal 2011. Tiffany projects the year's sales at about $3.1 billion, compared with analysts' estimates of $3.05 billion. Shares of Supervalu Inc SVU dipped about 12% after the company swung to a FQ3 loss. SVU reported a loss of $0.95 per share, versus a profit of $0.51 per share, in the year-ago quarter. On an adjusted basis, the retailer reported its earnings at $0.24 per share. However, analysts were expecting earnings of $0.32 per share. For the fiscal year, SVU reduced its profit projections to a range of $1.25 to $1.35 per share, from $1.40 to $1.60 per share. Airline stocks were trading mixed, with American Airlines parent AMR Corp AMR as the top decliner in the list. The NYSE Arca Airline Index (XAL) fell around 0.65%. Some of the gainers in the list were Tam SA TAM, Gol Linhas SA GOL and Lan Airlines SA LFL. AMR shares dropped after analysts at UBS downgraded the stock to “neutral.” Read more from Benzinga's Markets.